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The futures and other platforms are creating an inverse MtGox.. this is gonna end badly for short sellers
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Yep, there are graphs like that. Search and you will find.
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+1 for hodling
-1 for crazy 10 fold rise expectation
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Nice that you started an options exchange, I hope it becomes liquid enough for me to trade there eventually. I played a bit with Atlas ATS but it doesn't support margin, will your exchange? |
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The "greater fool" works both ways, up and down. It helps with the price discovery, but induces large distortions.
Maybe we have just run out of greater fools? No, in an efficient market the price would have slowly risen to about 100$ by now. Bitcoin price is bubble after bubble, no chance to change that. Speculating on the direction seems quite difficult now. Trade volatility instead. Afaik there is no liquid exchange to trade bitcoin volatility on. |
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What's a "long bear"?  |
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The closer we get to 400 the more coins are added on the ask side.
These people are extremely afraid we go over 400 and that their coins will be worth more.
They can only hold down the price for so long. |
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cypherdoc, I hope you managed to profit in btc from this downturn. I'm making a killing here, lol.
just don't give it all back by being greedy. Already took profits, but leaving some dry powder in case it goes down further. At this point it's silly to wait if you had the plans to buy some. for me, it's just too risky to be leaving any fiat or BTC on any of these exchanges, esp Bitstamp. some funny shit going on there. it's not worth trying to day trade these swings. i'm happy with just buying dips. I hear you. The way I approach it now is by scalping futures at okcoin to offset the losses on my larger chunk of coins held in cold storage. So the cold storage is my hedge in case okcoin goes belly-up. edit: The interesting part is that by using bitcoin as collateral for a short position you're not really selling them, so you're avoiding incurring capital gains tax. |
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cypherdoc, I hope you managed to profit in btc from this downturn. I'm making a killing here, lol.
just don't give it all back by being greedy. Already took profits, but leaving some dry powder in case it goes down further. At this point it's silly to wait if you had the plans to buy some. |
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cypherdoc, I hope you managed to profit in btc from this downturn. I'm making a killing here, lol.
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IMO if you're still out or short, it's silly to not give it a little shot right here. Not saying it can't go lower, but the upside potential here beats the downside. People are using bitcoin for payment, so there has to be a floor in the price. Moreover, at this rate you're getting exponentially more bitcoins for your short and there are only going to be so many left for sale.
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Taking profits in my okcoin futures account. This is too good to be true  |
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Can anyone speculate as to what has been up with all the dumping? Where are all these coins coming from?
this for one. i just hope these derivatives exchanges aren't allowing naked shorting:  To be fair 11k is nothing compared to the entire float. |
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Buyers:
4) People covering their shorts
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It looks like they decided to turn the China Manipulation script back on at Huobi...
Until bitstamp or btc-e starts doing 0% fees this will continue I'm afraid.. I don't think fees are the issue. Fake volume is. Maybe bitstamp needs to make its volume appear 10x higher than it actually is... I stopped trading at bitstamp because it's just too difficult to make more than the fees (2*0.2%) on an average trade. It used to be possible, but bitcoin got less whippy lately, which I believe is being caused by the 0% fee exchanges. This can have a snowball effect because less short term volatility causes other traders to leave too, making bitstamp follow other exchanges instead. |
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It looks like they decided to turn the China Manipulation script back on at Huobi...
Until bitstamp or btc-e starts doing 0% fees this will continue I'm afraid.. |
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holding above $440 at bitstamp.. could this be it? are we finally going up again?
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they stuck their necks out and got their heads chopped off |
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